While looking at a weekly timeframe we can see that this stock had a great bounce from its previous support which marked in dotted lines and volumes are also massive around it - showing its strength.
Turnaround is seen in the chart on weekly and the Price to Sales ratio looks attractive to me.
Weekly TF - https://www. tradingview.com/x/0OnIVksl/
Also, the dotted line marked can also be said as Polarity Point - a point where once a Resistance (Support) level is breached, it changes its nature and becomes Support (Resistance)
.
Now, coming to daily timeframe - we can see that it took a trendline support from below (Dec 2021) which almost coincides with the polarity point, showing a good support.
There's a short term resistance at 107 levels marked with horizontal line, so one has to be cautious before entering.
.
Entry Points - Current Market Price i.e. ₹106.75, and ₹99.00
Risk Free entry - After ₹114 (marked with Blue Dotted lines)
Stoploss - Below ₹88
.
Fundamentally the stock also looks good, so you can go for long term.
Turnaround is seen in the chart on weekly and the Price to Sales ratio looks attractive to me.
Weekly TF - https://www. tradingview.com/x/0OnIVksl/
Also, the dotted line marked can also be said as Polarity Point - a point where once a Resistance (Support) level is breached, it changes its nature and becomes Support (Resistance)
.
Now, coming to daily timeframe - we can see that it took a trendline support from below (Dec 2021) which almost coincides with the polarity point, showing a good support.
There's a short term resistance at 107 levels marked with horizontal line, so one has to be cautious before entering.
.
Entry Points - Current Market Price i.e. ₹106.75, and ₹99.00
Risk Free entry - After ₹114 (marked with Blue Dotted lines)
Stoploss - Below ₹88
.
Fundamentally the stock also looks good, so you can go for long term.
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。